NEW YORK (AP) — NEW YORK (AP) — AMC Networks Inc. (AMCX) on Friday reported third-quarter net income of $41.4 million.
The New York-based company said it had net income of 76 cents per share. Earnings, adjusted for amortization costs and restructuring costs, came to 91 cents per share.
The results surpassed Wall Street expectations. The average estimate of four analysts surveyed by Zacks Investment Research was for earnings of 86 cents per share.
The owner of cable channels including AMC and IFC posted revenue of $599.6 million in the period, also exceeding Street forecasts. Three analysts surveyed by Zacks expected $597.9 million.
AMC Networks shares have fallen 56% since the beginning of the year. The stock has declined 41% in the last 12 months.
_____
This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on AMCX at https://www.zacks.com/ap/AMCX
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.